US Navy Shipbuilder’s Stock Jumps in Sydney as Hanwha Buys Stake
(Bloomberg) -- Shares of Australian shipbuilder Austal Ltd. climbed after a unit of Hanwha Aerospace Co. became a substantial shareholder of the US Navy contractor, as South Korea’s top defense firm attempts to bolster its foothold in America.Most Read from BloombergICE Eyes Massive California Tent Facility Amid Space ConstraintsHow Britain’s Most Bike-Friendly New Town Got BuiltThe Dark Prophet of Car-Clogged CitiesWashington, DC, Region Braces for ‘Devastating’ Cuts from CongressNYC Plans for